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Seattle Condo Blog | Urban LivingFri, 09 Dec 2016 18:56:54 +0000en-UShourly1Seattle Condo Sales In November, Up 25% Year Over Year (Only 57 units for Sale)http://www.urbancondospaces.com/seattle-condo-sales-november-25-year-year-57-units-sale/
http://www.urbancondospaces.com/seattle-condo-sales-november-25-year-year-57-units-sale/#respondFri, 09 Dec 2016 18:52:41 +0000http://www.urbancondospaces.com/?p=17326The Seattle Condo Sales for November Are In Here are the quick headlines: Condos are selling much sooner this year than last. To be exact, the average days on market was 105% longer or 73 more days on market last year versus this November Sales are up 25%. Last year we saw 38 sales in […]

There were 11 sales last month over $1M dollars. The luxury condo market in Seattle is brisk. At monthly pace, there is only 90 days of luxury inventory. That is well below the average.

Despite a lack of good quality inventory, the Downtown Seattle market continues to accelerate. There are only 57 units for sale in all of Downtown. This is nuts. There are only 21 units priced between $500,000 to $1M.

]]>http://www.urbancondospaces.com/seattle-condo-sales-november-25-year-year-57-units-sale/feed/0LUMA Condos In First Hill, Sold Outhttp://www.urbancondospaces.com/luma-condos-first-hill-sold/
http://www.urbancondospaces.com/luma-condos-first-hill-sold/#respondTue, 29 Nov 2016 19:07:46 +0000http://www.urbancondospaces.com/?p=17321LUMA condos on First Hill are sold out! The 168 unit project opened in June of 2015. The building is LEED certified with 24 floors of living space and a large rooftop deck. The condos were priced from $399,000 to $1.9million. The Team: Architect: Weber Thompson General: Lease Crutcher Lewis Civil: Magnusson Klemencic Associates Real […]

]]>LUMA condos on First Hill are sold out! The 168 unit project opened in June of 2015. The building is LEED certified with 24 floors of living space and a large rooftop deck. The condos were priced from $399,000 to $1.9million.

Buyers represented diverse demographics. From Maturing Millennials, established in their careers and now looking to invest in real estate, to Empty Nesters moving out of Seattle’s urban neighborhoods and looking to downsize to those moving out of older, nearby condominiums and looking for the benefits new construction offers, LUMA homeowners cover a wide range of ages and lifestyles. As with major trends throughout the market, relocation buyers moving for work from major and more expensive markets such as San Francisco, Los Angeles and New York were well represented too.

Congrats to all the new homeowners and a great new addition to the First Hill neighborhood!

]]>http://www.urbancondospaces.com/luma-condos-first-hill-sold/feed/0Median Price of Downtown Seattle Condos Rose 12% Since Last Octoberhttp://www.urbancondospaces.com/median-price-seattle-condos-rose-12-since-last-october/
http://www.urbancondospaces.com/median-price-seattle-condos-rose-12-since-last-october/#respondSun, 06 Nov 2016 16:12:26 +0000http://www.urbancondospaces.com/?p=17312Seattle condo sales for October are in. We’ve added them below for your reference. With all things considered the volume of units sold is pretty similar to October of last year. There was a 6% increase in units sold and the median price of a Downtown Seattle condo rose 12% over this time last year. […]

Seattle condo sales for October are in. We’ve added them below for your reference. With all things considered the volume of units sold is pretty similar to October of last year. There was a 6% increase in units sold and the median price of a Downtown Seattle condo rose 12% over this time last year. The cost per foot also rose by nearly 13%.

]]>http://www.urbancondospaces.com/median-price-seattle-condos-rose-12-since-last-october/feed/0Former Seattle Condo Site AVA, Reinvented, Coming Soon To Seattle Skylinehttp://www.urbancondospaces.com/former-seattle-condo-site-reinvented-coming-soon/
http://www.urbancondospaces.com/former-seattle-condo-site-reinvented-coming-soon/#respondThu, 27 Oct 2016 14:41:45 +0000http://www.urbancondospaces.com/?p=17216Is Seattle getting another condo tower? Do you guys remember the Seattle condo building AVA (8th and Pine) that was highly marketed prior to the great recession? Back in 2008, there were plans for a condo/hotel that would soar above the neighboring towers in the Retail District of Downtown Seattle. From what we gather, the developer […]

Is Seattle getting another condo tower?

Do you guys remember the Seattle condo building AVA (8th and Pine) that was highly marketed prior to the great recession? Back in 2008, there were plans for a condo/hotel that would soar above the neighboring towers in the Retail District of Downtown Seattle.

From what we gather, the developer (Fana Group) has re-invented the plans to deliver a 48 story hotel/residential tower featuring 395 units, 178 hotel rooms and nearly 8,000sf of retail. This is is exciting news but also will have an impact on multiple buildings in the surrounding neighborhood – including Olive 8 condos.

The building will sit at 8th and Pine in the retail district. Just 1 block from Pacific Place and steps away from the new Washington State Convention Center addition. The early design guidance for the Downtown Design Review Board is set for November 1st.

The architect for the new tower is Weber Thompson. Early highlights of the project include:

Residential amenity space on the top floor
Beautifully designed rooftop terrace
Ground level retail with overhead protection for the weather
Two lobbies – one for the hotel and one for the residences

]]>http://www.urbancondospaces.com/former-seattle-condo-site-reinvented-coming-soon/feed/0New Luxury Tower With Whole Foods As Anchor Tenant, Coming to Capitol Hillhttp://www.urbancondospaces.com/new-luxury-tower-whole-foods-anchor-tenant-coming-capitol-hill/
http://www.urbancondospaces.com/new-luxury-tower-whole-foods-anchor-tenant-coming-capitol-hill/#respondTue, 25 Oct 2016 21:22:58 +0000http://www.urbancondospaces.com/?p=17126There is a new 16 story tower coming to Capitol Hill and Whole Foods will be the anchor tenant. We expect this project to very popular just as 2200 Westlake condo project was when it came to South Lake Union. Columbia Pacific Advisors who will be developing the project expects the project to open in the 2nd […]

We expect this project to very popular just as 2200 Westlake condo project was when it came to South Lake Union. Columbia Pacific Advisors who will be developing the project expects the project to open in the 2nd or 3rd quarter of 2018. The tower named – The Danforth, will feature 265 units, 40,000 sf of retail and 355 cars.

What a GREAT neighborhood upgrade for apartment and condo residents on the hill. Can’t beat a short walk to a brand new grocery store.

]]>http://www.urbancondospaces.com/new-luxury-tower-whole-foods-anchor-tenant-coming-capitol-hill/feed/0164 Apartments Coming To 1st and Dennyhttp://www.urbancondospaces.com/164-apartments-coming-1st-denny/
http://www.urbancondospaces.com/164-apartments-coming-1st-denny/#respondSat, 22 Oct 2016 14:35:26 +0000http://www.urbancondospaces.com/?p=17115Recognize the site below? There is a new apartment project coming to Downtown Seattle. It sits right on 1st and Denny where Tini Bigs Lounge has been for years. The new apartments (Alexan 100) will have 164 units, 8 live work units and 3,000sf of commercial space. It will also have 124 parking stalls. For […]

Recognize the site below? There is a new apartment project coming to Downtown Seattle.

It sits right on 1st and Denny where Tini Bigs Lounge has been for years. The new apartments (Alexan 100) will have 164 units, 8 live work units and 3,000sf of commercial space. It will also have 124 parking stalls. For those of you un-familiar with the area, this site (1st and Denny) is at the north-end of Belltown and the and south boundary of Lower Queen Anne. There are three Seattle condo buildings just blocks from this new project. Trio, located at Denny and Westlake. Matae located at Denny and 2nd and The Concord located at 1st and Eagle.

The architect is Clark Design Group and the Developer is Trammell Crow Residential.

]]>http://www.urbancondospaces.com/164-apartments-coming-1st-denny/feed/0Seattle now has 58 Cranes In The Skyline, Less than 3 for Condoshttp://www.urbancondospaces.com/seattle-now-58-cranes-skyline-less-3-condos/
http://www.urbancondospaces.com/seattle-now-58-cranes-skyline-less-3-condos/#respondFri, 21 Oct 2016 19:17:43 +0000http://www.urbancondospaces.com/?p=17107Did you guys catch this article in the Seattle Times this week? Seattle appears to be leading the country in the number of cranes in the air for upcoming development projects. As many of you know, the majority of these cranes are not for condos. They are apartments, office projects and new Seattle […]

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Did you guys catch this article in the Seattle Times this week? Seattle appears to be leading the country in the number of cranes in the air for upcoming development projects.

As many of you know, the majority of these cranes are not for condos. They are apartments, office projects and new Seattle hotels. The 4 projects that currently/recently have used cranes are Insignia Towers, Gridiron (Pioneer Square), Luma (First Hill) and Nexus (delivering in 2019).

Overview - Last 30 days

]]>http://www.urbancondospaces.com/seattle-now-58-cranes-skyline-less-3-condos/feed/0Sub Penthouse With Huge Views of Downtown Seattle Goes Pendinghttp://www.urbancondospaces.com/sub-penthouse-with-huge-views-downtown-seattle-goes-pending/
http://www.urbancondospaces.com/sub-penthouse-with-huge-views-downtown-seattle-goes-pending/#respondTue, 18 Oct 2016 14:08:01 +0000http://www.urbancondospaces.com/?p=17102Check out this killer sub-penthouse at the Grandview in Belltown. It it a Jim Olson Design (Olson Kundig), featuring 2,815sf of industrial chic. 26 floors up and one floor below the penthouse, this massive 1 bedroom, 1.5 bathroom has an abundance of natural interior features including raw concrete and steel. The unit has views of […]

It it a Jim Olson Design (Olson Kundig), featuring 2,815sf of industrial chic.

26 floors up and one floor below the penthouse, this massive 1 bedroom, 1.5 bathroom has an abundance of natural interior features including raw concrete and steel. The unit has views of both Downtown Seattle and the waterfront. The asking price is $2,195,000. We’ll keep an eye on this one. It should close before the holidays.

The Seattle condo scene could use a few more units like this one. Very special.

]]>http://www.urbancondospaces.com/sub-penthouse-with-huge-views-downtown-seattle-goes-pending/feed/0Million Dollar Condo Sales In Seattle Up 48% Over Last Yearhttp://www.urbancondospaces.com/million-dollar-condo-sales-seattle-48-last-year/
http://www.urbancondospaces.com/million-dollar-condo-sales-seattle-48-last-year/#respondThu, 13 Oct 2016 21:23:41 +0000http://www.urbancondospaces.com/?p=17081Looking for a pulse on the luxury condo market in Seattle? We just pulled the numbers and luxury condo sales are setting records with 2 months to go in the year. Year to date there have been 170 sales over $1,000,000. That is up 48% from last years total and we still have 2 months left […]

Looking for a pulse on the luxury condo market in Seattle? We just pulled the numbers and luxury condo sales are setting records with 2 months to go in the year.

Year to date there have been 170 sales over $1,000,000. That is up 48% from last years total and we still have 2 months left in 2016 for sales to post. If you compare this years numbers to 2011, its a 304% increase in $1m+ sales.

Quick Facts:

There have been 143 condos sold between $1m-$2m in 2016

22 condos sold between $2m-$3m

5 condos sold over $3M

The average price per unit YTD is $1,500,842

Most expensive sale in 2016 – $7,115,000 at the Four Seasons

Interested in learning more? All you have to do is ask. We can help you buy, sell or rent your condo. Just need free data or stats? Contact us.

]]>http://www.urbancondospaces.com/million-dollar-condo-sales-seattle-48-last-year/feed/0In September, The Average Price Per Condo Sold In Downtown Seattle Was $950,927http://www.urbancondospaces.com/september-average-price-per-condo-sold-in-downtown-seattle-950927/
http://www.urbancondospaces.com/september-average-price-per-condo-sold-in-downtown-seattle-950927/#respondMon, 10 Oct 2016 03:23:12 +0000http://www.urbancondospaces.com/?p=17067The September condo sales in Downtown Seattle are in. We’ve have been pouring over the stats and found that the average cost per unit (sold condos) in Downtown was $950,927. The median price was $842,650. Downtown had a total of 74 sales which was a large decrease from August. This is primarily because there were […]

The September condo sales in Downtown Seattle are in. We’ve have been pouring over the stats and found that the average cost per unit (sold condos) in Downtown was $950,927. The median price was $842,650. Downtown had a total of 74 sales which was a large decrease from August. This is primarily because there were less sales posted by Insignia Towers. New buyers started moving into the North Tower (583 Bell) the last few months.

We are starting to see listings on the market for longer than previous months. With that said, based upon averages all over the country, Seattle remains a VERY hot seller market. Until we see inventory climb quickly, we believe it will remain a tight market with much competition amongst buyers.

Year over year, the cost per square foot average is up 4%. The average price per condo sold is up 12% from last September.

]]>http://www.urbancondospaces.com/september-average-price-per-condo-sold-in-downtown-seattle-950927/feed/0$8.8M Seattle Penthouse Sells In Less Than 24 Hourshttp://www.urbancondospaces.com/8-8m-seattle-penthouse-sells-less-24-hours/
http://www.urbancondospaces.com/8-8m-seattle-penthouse-sells-less-24-hours/#respondMon, 19 Sep 2016 14:57:44 +0000http://www.urbancondospaces.com/?p=17014An $8,800,000 condo listed last on Tuesday of last week, found a buyer in just 24 hours. Yes, you read that correctly. The penthouse that inspired E.L. James “Fifty Shades of Grey” is owned by the Diamond Family. The unit is 5,170sf with 3 bedrooms, 3 bathrooms and includes 4 parkings stalls with the sale. […]

An $8,800,000 condo listed last on Tuesday of last week, found a buyer in just 24 hours. Yes, you read that correctly.

The penthouse that inspired E.L. James “Fifty Shades of Grey” is owned by the Diamond Family. The unit is 5,170sf with 3 bedrooms, 3 bathrooms and includes 4 parkings stalls with the sale. This unit, much like many others at the popular building Escala has its own elevator vestibule and a gracious amount of outdoor space.

Interesting Facts Regarding Penthouse #3001
1. The HOA dues are $3,916 per month
2. The unit was purchased in 2010 for $5,950,000
3. The annual taxes are currently $54,471
4. The estimated cost per square foot for the sale is $1,702.13 (price unknown until it records)

There have now been 3 condos in Seattle that have sold over $4.5M this year!

]]>http://www.urbancondospaces.com/8-8m-seattle-penthouse-sells-less-24-hours/feed/0Seattle, Number One U.S. Market For Chinese Homebuyershttp://www.urbancondospaces.com/seattle-number-one-u-s-market-chinese-homebuyers/
http://www.urbancondospaces.com/seattle-number-one-u-s-market-chinese-homebuyers/#respondFri, 16 Sep 2016 17:41:48 +0000http://www.urbancondospaces.com/?p=17011You read that correctly. Seattle has become the hottest U.S. market for Chinese real estate buying. In last 7 days you have seen 3 major news publications bring this topic to the forefront of the forever popular debate on housing. According to the Seattle Times, Vancouver Sun and Puget Sound Business Journal, Seattle has quickly […]

You read that correctly. Seattle has become the hottest U.S. market for Chinese real estate buying.

In last 7 days you have seen 3 major news publications bring this topic to the forefront of the forever popular debate on housing. According to the Seattle Times, Vancouver Sun and Puget Sound Business Journal, Seattle has quickly become the number one domestic economy for Chinese homebuyers to invest in.

Seattle saw more inquiries from mainland-Chinese homebuyers than any other American city in four of the last seven months, according to Juwai.com, China’s biggest real-estate site for buyers looking in North America.

……“I’m even seeing some Vancouver agents come down and pairing up with a Seattle agent and showing property here,” said Anna Riley, a Windermere agent who sells to many foreign buyers on the Eastside. “It’s a bit like plugging a hole in a dike — the water will spring out somewhere else.”

So what is the immediate impact? In our opinion, it will simply be continued demand. The Chinese have been investing in our market for years. It has been more of a theme in the last 2-3 years and this adds to home value appreciation, decreasing inventory and multiple offer situations in an already tight market.

]]>http://www.urbancondospaces.com/seattle-number-one-u-s-market-chinese-homebuyers/feed/0Live In A Vacated Firehouse Condo On Capitol Hillhttp://www.urbancondospaces.com/live-vacated-firehouse-capitol-hill/
http://www.urbancondospaces.com/live-vacated-firehouse-capitol-hill/#respondThu, 15 Sep 2016 18:09:57 +0000http://www.urbancondospaces.com/?p=17005Firehouse 25 Condo For Sale Check out this place that just hit the market on Capitol Hill. Firehouse 25 is a vacated firehouse decommissioned in 1970. Remarkably, overtime, a local architect took on a challenge to transform this space into what it is today. Unit 10, which is one of 14 units modernized around 1980 is a […]

Unit 10, which is one of 14 units modernized around 1980 is a killer unit with a massive layout. 3 stories of living space, exposed brick, arched windows and wide-plank floors. The building is located right in the heart of Capitol Hill and according to WALKSCORE, the unit is 99% category with a transit score of 97. If you have a car, the unit comes with 2 car garage parking and storage.

The unit has a unique living space with 2 bedrooms, 2.25 bathrooms and nearly 2,000sf. The asking price is $950,000. Offers are being reviewed on the 21st of this month.

]]>http://www.urbancondospaces.com/live-vacated-firehouse-capitol-hill/feed/0August Condo Sales In Downtown Seattle, Price Per Unit Sold Jumps 31%http://www.urbancondospaces.com/august-condo-sales-downtown-seattle-price-per-unit-sold-jumps-31/
http://www.urbancondospaces.com/august-condo-sales-downtown-seattle-price-per-unit-sold-jumps-31/#respondTue, 06 Sep 2016 14:54:23 +0000http://www.urbancondospaces.com/?p=16989Our stats are in for Downtown Seattle condo sales in August. Led by Insignia Towers, the average cost per square foot jumped 16% from $700psf to $814psf. This number is significant as developers all over the city that are contemplating building new product. When doing so, the majority of the analysis is ensuring that their […]

Our stats are in for Downtown Seattle condo sales in August. Led by Insignia Towers, the average cost per square foot jumped 16% from $700psf to $814psf. This number is significant as developers all over the city that are contemplating building new product. When doing so, the majority of the analysis is ensuring that their per square footage price aligns with their construction costs and timing.

In July, the average sale price per unit in Seattle was $755,828 – in August that number rose to $993,320. That is a 31% increase. As you’ll see below, the average condo sold in Seattle in August 2015 was $772,204 – just a year later that number is 29% higher.

Pretty significant increase in the median price as well – July $681,900 to August $878,800 – a 28% increase.

Interesting storylines for August:

The least expensive condo sold was $177,500 unit in Belltown at the Alexandria

The most expensive condo sold was a 39th floor unit at Insignia Towers. It sold for $2,817,800

57 units sold for over a $1,000,000

10 units sold for $2,000,000 or more

The average days for a unit on market before it found a buyer was 17

Point of comparison (year over year)

August 2015 versus 2016

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Overview - Last 30 days

Median Price

Sold $560,055

New $845,000

Active $992,450

Sale-to-List Price

54%

Median Days on Site

Active 76

Inventory

Sold 47

New 16

Active 54

Median Price - Last 6 Months *

Sale-to-List Price - Last 6 Months

Median Days on Site - Last 6 Months *

Listing Inventory - Last 6 months *

* Data on active listings begins accruing at report creation. History will grow over time.

]]>http://www.urbancondospaces.com/august-condo-sales-downtown-seattle-price-per-unit-sold-jumps-31/feed/0Downtown Seattle Condo Sales Up In July, Price Per Foot Climbs 17%http://www.urbancondospaces.com/downtown-seattle-condo-sales-july-price-per-foot-climbs-17/
http://www.urbancondospaces.com/downtown-seattle-condo-sales-july-price-per-foot-climbs-17/#respondTue, 09 Aug 2016 23:34:09 +0000http://www.urbancondospaces.com/?p=16970There were a 166 Seattle condo sales in July. A slight increase in the numbers of condos sold from the month June. The biggest jump was in the average cost per square foot. It rose 17% above the month of June to $700psf. Interesting storylines from July: The average sale price for units sold was […]

There were a 166 Seattle condosales in July. A slight increase in the numbers of condos sold from the month June. The biggest jump was in the average cost per square foot. It rose 17% above the month of June to $700psf.

Interesting storylines from July:

The average sale price for units sold was $755,828

The average days on market for a unit sold was just 13 days

Sellers on average received just over full price. 100.20% of the asking price.